Big company watch. (Trade Talk).

Latin American sales in US$ millions as of June 30, 2002

DEAR SHAREHOLDER...

* CATERPILLAR

Strong Latin American results, behind bus and truck engine sales, offset flagging North American revenues for this heavy equipment manufacturer. Operations in Mexico and Brazil benefited the most, but Caterpillar expects curtailed future revenues in the region.

* UNILEVER

This home and personal-care products company has been posting impressive gains. Even in Argentina, where the market declined in tandem with consumer income, Unilever's share held steady. Global procurement and aggressive price increases bolstered the results.

* CARREFOUR

This French supermarket chain was hit by currency devaluations in Argentina and Brazil but saw its stock jump when the International Monetary Fund announced US$30 billion in aid for Brazil. The world's second-largest supermarket operator predicts lower costs will help future earnings.

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